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Travis Perkins appoints new finance director

Tony Buffin is the new group finance director at Travis Perkins.

Buffin will take over from Paul Hampden Smith, and is expected to join in Q2 2013.

He has what is described by the builders' merchant as "an exceptionally strong track record" in financial management, corporate finance and in "creating and developing growth strategies".

He joins from Coles Group, the major Australia retail business where he has served a CFO since July 2009. He has also held senior finance positions at Boots and Aimia Inc – where he subsequently held the CEO role.

Robert Walker, chairman of Travis Perkins, said: "It was important that we replaced Paul Hampden Smith with the right candidate and the board believes that it has achieved this with the appointment of Tony, whose track record speaks for itself. We believe he will become an important addition to our senior executive team."

Hampden Smith has served in senior finance roles at Travis Perkins for 22 years, including the last 17 in his current role. He will step down after the merchant's AGM in February.

Travis Perkins, which operates under brands such as Wickes and City Plumbing, had seen its shares fall off the back of the notice of Hampden Smith's departure, and slow sales during the summer.

It is expected to clear £300m in pre-tax profits, according to analysts.

Shares are trading up a penny in this morning's trading, at 1,075.00p, giving the company a market cap of £2.6bn. Its highest share price in the last 12 months is 1,135.00p.

Source : Kevin Reed – Accountancy Age

24 October 2012
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